‘No concerns’ with South Korean takeover bid for Austal: Marles

Korean defence giant Hanwha is growing more confident the Foreign Investment Review Board (FIRB) will back its quest for Perth shipbuilder Austal, as Defence Minister Richard Marles said the Albanese government has no concerns with the bid.

Following defence and diplomatic talks with Korean counterparts on Wednesday, Mr Marles said if Austal – regarded as among the crown jewels of the Australian defence industry – was bought out, security arrangements would be put in place to manage sensitive technology and intellectual property.